Refocusing our resources to advance Quest
The General Assembly recently passed an amended budget bill for the commonwealth with differentiated reductions for higher education. That means that while VCU’s state appropriation will still be less than last year, the reduction will be smaller than we anticipated.
Gov. Terry McAuliffe and the General Assembly approved the budget bill as amended relative to higher education, and VCU’s education and general funds will be reduced by 3.3 percent, or about $5.4 million, each year of the biennium. That is about half the reduction called for in the original budget proposal.
Although this is good news, we must be mindful, as always, that all of our precious resources are being used efficiently and effectively to advance our mission.
VCU is proud to be a state institution and to educate more Virginians than any other university. However, more than ever, we also recognize the need for sustainable resources. That is why we are developing a new budget model that will be accountable and transparent and will fund our many priorities. Our team, led by Senior Vice President for Finance and Administration Bill Decatur, has begun developing this new budget model. It will be a thorough and transformative process, and you will be kept informed of its progress.
As this budget model takes shape, all of us will be asked to make strategic decisions about resources — and with every decision we make, we must ensure that we protect our core academic mission and that our people remain well-equipped to succeed. This includes resources to recruit and retain those who help advance our mission.
In parallel to the new budget model, we have also begun to refocus our Quest for Distinction strategic plan. As we enter the homestretch of Quest, we need to accomplish that which is attainable given the bandwidth of our resources. With this refocus, I want to ensure that we celebrate our many accomplishments, reflect honestly on where we are and what we can realistically achieve, and determine how we fund our remaining priorities and measure their success.
This process will include our entire university community. Interim Provost John Wiencek and his team — including faculty, staff and student leaders — are hard at work on this initiative and will share their recommendations broadly by early spring. I look forward to seeing the results of their work and am grateful that I can count on the active involvement of our entire VCU community.
In the meantime, thank you for your continued commitment to Virginia Commonwealth University and its important and exciting mission.
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